Mergers & Acquisitions

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Deal Overview

Buyer:
United Community Financial Corp.
Actual Acquirer:
United Community Financial
Target:
Industrial Bancorp, Inc.
Deal Type:
Bank & Thrift Company
Agreement Date:
12/9/2000
Announcement Date:
12/9/2000
Announced Deal Value ($ M):
91.80
Status:
Completed
Completion Date:
7/1/2001
Announced Deal Value Per Share ($ )
20.38

Consideration Breakout
Cash ($M) 91.8

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 153.9 148.1
Price / Tangible Book (%) 153.9 148.1
Price / Earnings (x) 15.2 14.8
Price / Deposits (%) 29.80 29.08
Price / Assets (%) 22.08 21.37
Tangible Book Premium/ Deposits (%) 13.49 12.73
Deal Terms
Description of Consideration

United Community paid $20.375 in cash for each share of Industrial Bancorp.

Accounting Method Purchase
In-State Transaction? Yes
Merger of Equals? No
Geographic Expansion? Market Expansion
Goodwill Generated ($ 000) 18,121
Estimated Cost Savings (%) NA
Estimated Cost Savings ($ 000) NA
Est. Restructuring Charges ($ 000) NA
Maximum Termination Fee ($ 000) 4,000
Minimum Termination Fee ($ 000) NA
Exchange Ratio (Common For Common) NA
Exchange Ratio (Common For Preferred) NA
Exchange Ratio (Preferred For Common) NA
Exchange Ratio (Preferred For Preferred) NA
Lockup Agreement No
Strike Price ($ ) NA
% of Shares Outstanding NA
Shares Under Option NA
Core Deposit Intangibles ($ 000) 7,077
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer Yes RP Financial LC.
Seller Yes KeyBanc Capital Markets Inc.
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Werner & Blank LLC
Seller Yes Vorys Sater Seymour and Pease